JOANN Inc. (NASDAQ:JOAN) Given Average Rating of “Hold” by Brokerages

JOANN Inc. (NASDAQ:JOANGet Rating) has received an average recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $13.33.

A number of research analysts have recently weighed in on JOAN shares. Zacks Investment Research lowered JOANN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 23rd. Piper Sandler lowered JOANN from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $12.00 to $11.00 in a research report on Friday, March 18th. Guggenheim lowered JOANN from a “buy” rating to a “neutral” rating in a research report on Monday, March 21st. Loop Capital raised their price objective on JOANN from $13.00 to $15.00 in a research report on Friday, March 18th. Finally, Barclays cut their price objective on JOANN from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Monday, March 21st.

Shares of JOAN stock opened at $10.53 on Friday. JOANN has a 52-week low of $8.51 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 5.20, a quick ratio of 0.11 and a current ratio of 1.25. The firm has a market capitalization of $427.41 million and a PE ratio of 7.80. The stock has a fifty day simple moving average of $11.62 and a two-hundred day simple moving average of $10.86.

JOANN (NASDAQ:JOANGet Rating) last issued its quarterly earnings results on Thursday, March 17th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.28. The business had revenue of $735.30 million during the quarter, compared to analyst estimates of $752.33 million. JOANN had a return on equity of 62.50% and a net margin of 2.35%. The company’s revenue was down 12.5% compared to the same quarter last year. On average, sell-side analysts forecast that JOANN will post 1.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Friday, March 25th were issued a $0.11 dividend. This is an increase from JOANN’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 24th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.18%. JOANN’s dividend payout ratio (DPR) is presently 32.59%.

In related news, Director Darrell Webb sold 94,568 shares of the stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $12.50, for a total value of $1,182,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 97,575 shares of company stock valued at $1,218,014.

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG lifted its stake in JOANN by 2,122.0% in the third quarter. UBS Group AG now owns 2,222 shares of the company’s stock worth $25,000 after purchasing an additional 2,122 shares during the last quarter. Citigroup Inc. lifted its stake in JOANN by 106.7% in the fourth quarter. Citigroup Inc. now owns 2,960 shares of the company’s stock worth $31,000 after purchasing an additional 1,528 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in JOANN in the fourth quarter worth about $55,000. Royal Bank of Canada bought a new stake in JOANN in the second quarter worth about $162,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in JOANN in the third quarter worth about $123,000. 94.90% of the stock is owned by institutional investors and hedge funds.

About JOANN (Get Rating)

JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. Its products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.

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Analyst Recommendations for JOANN (NASDAQ:JOAN)

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